Chapter 4 Debt

Cost of borrowing money on an annual

basis; takes into account the interest

rate and other related fees on a loan

• Credit Report

• Loan Term

• Depreciation

• Credit Score

• Annual Percentage Rate

Tags

CCSS.7.RP.A.3

A decrease or loss in value

• Credit Report

• Loan Term

• Depreciation

• Credit Score

• Debt Snowball

Tags

CCSS.6.NS.C.7C

A detailed report of an individual’s

credit history

• Credit Report

• Loan Term

• Depreciation

• Credit Score

• Debt Snowball

Time frame that a loan agreement is

in force, and before or at the end of

which the loan should either be repaid

or renegotiated for another term

• Credit Report

• Loan Term

• Depreciation

• Credit Score

• Debt Snowball

Type of card issued by a bank that allows

users to finance a purchase

• Annual Fee

• Annual Percentage Rate

• Credit Card

• Loan Term

• Credit Report

A measure of an individual’s credit risk;

calculated from a credit report using a

standardized formula

• Credit Report

• Loan Term

• Depreciation

• Credit Score

• Debt Snowball

A yearly fee that’s charged by the credit

card company for the convenience of the

credit card

• Credit Card

• Annual Fee

• Annual Percentage Rate

• Credit Score

• Loan Term

Preferred method of debt repayment;

includes a list of all debts organized from

smallest to largest balance; minimum

payments are made to all debts except

for the smallest, which is attacked with

the largest possible payments

• Credit Report

• Loan Term

• Depreciation

• Credit Score

• Debt Snowball

Tags

CCSS.7.RP.A.3

What is Debt according to finances?

• paying off everything you owe

• a feeling of gratitude for a service or favor

• something, typically money, that is owed or due

• saving to pay all you got

Definition of Debt Free.

• not owing any money

• the act of paying your debt

• monthly bills on time

• paying bills

Tags

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.8.4

CCSS.RL.9-10.4